By restrictions, I meant that the Legends Reborn event requires players to be at a high-level and have high-tier gear in order to participate in the event. That's a restriction that goes against players that just join the game, or just found out about Blade & Soul because of this event.
Events for any videogame should be open and optional to everyone, not just high-leveled, top-geared players. It makes the "event" sound akin to end-game content, and there's nothing wrong with end-game content, but when such content is announced as an event, that's bad. However, not every event must be open to everyone guaranteed; going down that route would severely-restrict what events can be made.
Some events could be open-world events, and if players haven't unlocked a certain zone in which the event is taking place, then that's a restriction, but it's a fair one. Events with these kinds of restrictions are fair because they're obtainable and not primarily determined by RNG or grinding time. Yes, players will need to grind through the story to unlock zones, but that's not as bad as grinding for gear, and for Blade & Soul, grinding through the entire Campaign already rewards high-leveled gear, on top of unlocking all the zones.
Gear requirement as an event restriction is problematic because not every player has the best gear, so when an event can only reward players for killing a very high-leveled, high-health boss within a very short time limit, and certain gear is required, that's a very restricted event, and it's fun for some, but not for everyone.
Speed of update deployment doesn't matter when considering whether an update to a game was the right choice or not. Games could be updated quickly or slowly, but if the updates for either don't make sense, are irrelevant, and/ or dull, then it doesn't matter how fast they were programmed and deployed.
I guess I shouldn't have phrased the term "meaningless updates" because every announcement, there's a long page of class and system updates, so it's my guess that lots of changes are being made. However, I phrased it that way because when I compare the updates today compared to the updates 2 years ago when Blade & Soul released in NA, those updates added lots of new content and were enriching; today's updates focus heavily on the Hongmoon Store and these "events."
Hongmoon Store updates aren't bad because they notify players of new items, but when that becomes a primary over other important news to announce, that's a problem.
It's not a matter of relevance; it's a matter of what players can get in-game using real money. Microtransactions continue tainting the gaming culture, but they are necessary for running a F2P game since that's the primary source of income for the industry that developed the game. However, for Blade & Soul, the reason why many consider this game a P2W is because players can purchase materials that directly-affect the gameplay using real money.
Materials in this game are used to upgrade weapons, and all of them have to be farmed one way or another. Offering the option to buy materials with cash generates more income for the industry, but it turns the game into a P2W model because there will be those player "whales" that spend thousands to be at the top. This was the case with Perfect World; and it's still a problem in that game today, but not as bad as it was many years ago.
Bottom-line is this: if what a player buys through microtransactions affects their gameplay in any way, be it making them stronger, deal more damage, have better buffs, etc., it's a P2W model. If it's just cosmetics, than it's paying for enjoyment, or paying for something a player wants that won't make them any stronger than other players.